Sri lanla Education Administrative Promotion from SLEAS - II to SLEAS - I list published. prefer to view please click blow
SLEAS Promotion
SLEAS Promotion
Efficiency Bar Exam Result - SLPS
Sri lanka Principal Service Efficiency Bar Examination result out. For officers in SLPS sevice, class I,II,III in Sri Lanka Principals service - 2010 (2011) results are available below.
Efficiency Bar Examination result
Efficiency Bar Examination result
Education Places
Hi Students today we discuss where get proper educations. All of them have dream about his future. Our Students facing lack of problems identify proper course and also place now we give some education place for your best. " All the Best for All Success".
01. Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka)
Is one of largest professional organizations in Sri Lanka that support over 4,300 chartered accountants. The Institute provides insight and leadership to the accountancy and finance profession in Sri Lanka as well as globally. www.casrilanka.com
Types of management information systems
There are many types of management information systems -MIS in the market that provide a wide range of benefits for companies.- Transaction processing systems (TPS)
Auditing Question Bank
Westra Co assembles mobile telephones in a large factory. Each telephone contains up to 100 different parts, with each part being obtained from one of 50 authorised suppliers.
Like many companies, Westra’s accounting systems are partly manual and partly computerised. In overview the systems include:
(i) Design software
(ii) A computerised database of suppliers (bespoke system written in-house at Westra)
(iii) A manual system for recording goods inwards and transferring information to the accounts department
(iv) A computerised payables ledger maintained in the accounts department (purchased off-the-shelf and used with no program amendments)
(v) Online payment to suppliers, also in the accounts department
(vi) A computerised general ledger which is updated by the payables ledger
Mobile telephones are assembled in batches of 10,000 to 50,000 telephones. When a batch is scheduled for
production, a list of parts is produced by the design software and sent, electronically, to the ordering department. Staff
in the ordering department use this list to place orders with authorised suppliers. Orders can only be sent to suppliers
on the suppliers’ database. Orders are sent using electronic data interchange (EDI) and confirmed by each supplier
using the same system. The list of parts and orders are retained on the computer in an ‘orders placed’ file, which is
kept in date sequence.
Parts are delivered to the goods inwards department at Westra. All deliveries are checked against the orders placed
file before being accepted. A hand-written pre-numbered goods received note (GRN) is raised in the goods inwards
department showing details of the goods received with a cross-reference to the date of the order. The top copy of the
GRN is sent to the accounts department and the second copy retained in the goods inwards department. The orders
placed file is updated with the GRN number to show that the parts have been received.
Paper invoices are sent by all suppliers following dispatch of goods. Invoices are sent to the accounts department,
where they are stamped with a unique ascending number. Invoice details are matched to the GRN, which is then
attached to the invoice. Invoice details are then entered into the computerised payables ledger. The invoice is signed by
the accounts clerk to confirm entry into the payables ledger. Invoices are then retained in a temporary file in number
order while awaiting payment.
After 30 days, the payables ledger automatically generates a computerised list of payments to be made, which is sent
electronically to the chief accountant. The chief accountant compares this list to the invoices, signs each invoice to
indicate approval for payment, and then forwards the electronic payments list to the accounts assistant. The assistant
uses online banking to pay the suppliers. The electronic payments list is filed in month order on the computer.
Required:
(a) List the substantive audit procedures you should perform to confirm the assertions of completeness, occurrence
and cut-off for purchases in the financial statements of Westra Co. For each procedure, explain the purpose
of that procedure. (12 Marks)
(b) List the audit procedures you should perform on the trade payables balance in Westra Co’s financial statements.
For each procedure, explain the purpose of that procedure. (8 Marks)
(c) Describe the control procedures that should be in place over the standing data on the trade payables master
file in Westra Co’s computer system. (5 Marks)
(d) Discuss the extent to which computer-assisted audit techniques might be used in your audit of purchases and
payables at Westra Co. (5 Marks)
(30 marks)
Answers
Grade five Cut off Marks
Grade 5 Scholarship result publish last Thursday 15/09/2011 this result as early published result in Srilanka. Cut off marks also published in district wise
What do you mean Management Information System - MIS?
What do you mean Management Information System - MIS? A management information system (MIS) is a system that provides information needed to manage organizations efficiently and effectively.
Management information systems are regarded as a subset of the overall internal controls procedures in a business, which cover the application of people, documents, technologies, and procedures used by management accountants to solve business problems such as costing a product, service or a business-wide strategy. Management information systems are distinct from regular information systems in that they are used to analyze other information systems applied in operational activities in the organization. Academically, the term is commonly used to refer to the group of information management methods tied to the automation or support of human decision making, e.g. decision support systems, expert systems, and executive information systems.
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- Management information systems involve three primary resources such as technology,
- Information, and people. It's important to recognize that while all three resources are key components when studying management information systems
- The most important resource is people.
Management information systems are regarded as a subset of the overall internal controls procedures in a business, which cover the application of people, documents, technologies, and procedures used by management accountants to solve business problems such as costing a product, service or a business-wide strategy. Management information systems are distinct from regular information systems in that they are used to analyze other information systems applied in operational activities in the organization. Academically, the term is commonly used to refer to the group of information management methods tied to the automation or support of human decision making, e.g. decision support systems, expert systems, and executive information systems.
What is Management?
What is Management?
All business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal.
Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources.
Since organizations can be viewed as systems, management can also be defined as human action, including design, to facilitate the production of useful outcomes from a system. This view opens the opportunity to 'manage' oneself, a pre-requisite to attempting to manage others.
What are functions do by Management?
- Planning
- Organizing
- Staffing
- Leading or directing
- Controlling
Origin of Management
The verb manage comes from the Italian maneggiare (to handle — especially tools)
which in turn derives from the Latin manus (hand). The French word mesnagement (laterménagement) influenced the development in meaning of the English word management in the 17th and 18th centuries.
Definition of Management
- Simple word as planning, organization, staffing, leading and control activities.
- Organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of clearly defined objectives. Management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker (1909–2005), the basic task of a management is twofold:marketing and innovation.
- Directors and managers have the power and responsibility to make decisions to manage an enterprise when given the authority by the shareholders. As a discipline, management comprises the interlocking functions of formulating corporate policy and organizing, planning, controlling, and directing the firm's resources to achieve the policy's objectives. The size of management can range from one person in a small firm to hundreds or thousands of managers in multinational companies. In large firms the board of directors formulates the policy which is implemented by the chief executive officer.
ICA Changes own website address
Institute of Charted Accountant of Srilanka changing his own website as part of promotion Education activities. New website address gives blow
www.icasl.lk
www.icasl.lk
Auditing Leason
What is Auditing as general term as simple said official examination of accounts. other worlds Audits are performed to ascertain the validity and reliability of information; also to provide an assessment of a system's internal control. The goal of an audit is to express an opinion on the person / organization / system (etc.) in question, under evaluation based on work done on a test basis.
Now Develop auditing concept
The general definition of an audit is an evaluation of a person, organization, system, process, enterprise, project or product. The term most commonly refers to audits in accounting, but similar concepts also exist in project management, quality management, and energy conservation.
Aim of Audit
- An audit seeks to provide only reasonable assurance that the statements are free from material error. Statistical sampling is often adopted in audits. In the case of financial audits, a set of financial statements are said to be true and fair when they are free of material misstatements - a concept influenced by both quantitative (numerical) and qualitative factors.But recently, argument that auditing should go beyond just True and fair is gaining momentum. And PCAOB has came out with a concept release on the same.
- Auditing is a vital part of accounting. Traditionally, audits were mainly associated with gaining information about financial systems and the financial records of a company or a business (see financial audit). However, recent auditing has begun to include non-financial subject areas, such as safety, security, information systems performance, and environmental concerns. With nonprofit organizations and government agencies, there has been an increasing need for performance audits, examining their success in satisfying mission objectives. As a result, there are now audit professionals who specialize in security audits, information systems audits, and environmental audits.
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